Forest Hill Military Academy is in default on its loans and is scheduled to be auctioned at a master commissioner’s sale on Oct. 1. A court judgment earlier this month ordered the property to be sold to pay the lender, Farmers Deposit Bank. The bank filed suit against the Cadet Corps seeking $ 535,188 plus interest. Court records indicate the Cadet Corps had two loans totaling $ 1 million borrowed from the bank. A senior loan officer said in an affidavit that the school had not made payments since August 2014. The property value was appraised at $ 675,000 according to court records.